Zacks Investment Research Lowers Enerplus (NYSE:ERF) to Hold

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Enerplus (NYSE:ERF) (TSE:ERF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “Enerplus Corporation, formerly known as Enerplus Resources, is an independent oil and gas production company with resources across Western Canada and the United States. The Company’s resource plays include shallow gas/coal bed methane, tight gas, crude oil waterfloods, Bakken/Tight oil and oil sands located in British Columbia, Alberta, Saskatchewan and Manitoba. Enerplus Corporation is based in Alberta, Canada. “

A number of other research analysts also recently commented on the company. Raymond James reaffirmed an “average” rating and set a $21.50 target price on shares of Enerplus in a report on Monday, May 13th. Canaccord Genuity reaffirmed a “buy” rating and set a $18.00 target price on shares of Enerplus in a report on Tuesday, April 9th. Finally, TheStreet raised Enerplus from a “d+” rating to a “c+” rating in a report on Monday, February 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $16.38.

NYSE:ERF opened at $6.66 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.37 and a current ratio of 1.37. Enerplus has a 52 week low of $6.66 and a 52 week high of $13.87. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 6.11 and a beta of 1.73.

Enerplus (NYSE:ERF) (TSE:ERF) last released its earnings results on Friday, May 10th. The oil and natural gas company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Enerplus had a return on equity of 14.62% and a net margin of 31.33%. The company had revenue of $216.21 million for the quarter, compared to the consensus estimate of $215.00 million. During the same quarter last year, the business posted $0.12 EPS. On average, research analysts forecast that Enerplus will post 1 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in ERF. Lindbrook Capital LLC acquired a new stake in shares of Enerplus during the 4th quarter worth approximately $25,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Enerplus during the 1st quarter worth approximately $32,000. Lavaca Capital LLC acquired a new stake in shares of Enerplus during the 1st quarter worth approximately $35,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Enerplus during the 4th quarter worth approximately $67,000. Finally, CWM Advisors LLC acquired a new stake in shares of Enerplus during the 4th quarter worth approximately $86,000. Institutional investors and hedge funds own 58.16% of the company’s stock.

Enerplus Company Profile

Enerplus Corporation, together with subsidiaries, engages in the exploration and development of crude oil and natural gas in the United States and Canada. The company's oil and natural gas properties are located primarily in North Dakota, Montana, Colorado, and Pennsylvania; and Alberta, British Columbia, and Saskatchewan.

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